Bank of New York Mellon Corp Has $79,000 Stock Position in Prairie Operating Co. (NASDAQ:PROP)

Bank of New York Mellon Corp raised its position in Prairie Operating Co. (NASDAQ:PROP) by 30.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,741 shares of the company’s stock after purchasing an additional 3,453 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.05% of Prairie Operating worth $79,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of PROP. Wells Fargo & Company MN lifted its position in shares of Prairie Operating by 128.0% in the fourth quarter. Wells Fargo & Company MN now owns 4,376 shares of the company’s stock worth $30,000 after buying an additional 2,457 shares during the last quarter. FNY Investment Advisers LLC bought a new position in shares of Prairie Operating during the 1st quarter worth about $42,000. Nuveen Asset Management LLC acquired a new stake in Prairie Operating during the fourth quarter worth about $97,000. JPMorgan Chase & Co. increased its stake in Prairie Operating by 121.8% during the fourth quarter. JPMorgan Chase & Co. now owns 15,451 shares of the company’s stock valued at $107,000 after acquiring an additional 8,485 shares during the period. Finally, Navigation Wealth Management Inc. raised its stake in shares of Prairie Operating by 83.3% in the first quarter. Navigation Wealth Management Inc. now owns 22,007 shares of the company’s stock valued at $118,000 after purchasing an additional 10,000 shares in the last quarter. 34.28% of the stock is owned by institutional investors and hedge funds.

Prairie Operating Stock Performance

PROP opened at $3.18 on Thursday. The company has a debt-to-equity ratio of 11.17, a quick ratio of 0.56 and a current ratio of 0.57. The business’s 50-day simple moving average is $3.66 and its 200 day simple moving average is $5.14. The firm has a market capitalization of $139.38 million, a PE ratio of -1.06 and a beta of 2.01. Prairie Operating Co. has a 52-week low of $2.74 and a 52-week high of $12.30.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PROP shares. Roth Capital assumed coverage on Prairie Operating in a research report on Thursday, June 12th. They issued a “buy” rating and a $8.00 price target on the stock. Piper Sandler dropped their target price on Prairie Operating from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, July 17th. KeyCorp started coverage on shares of Prairie Operating in a report on Thursday, July 3rd. They issued a “sector weight” rating on the stock. Citigroup initiated coverage on Prairie Operating in a research note on Monday, June 2nd. They issued a “buy” rating and a $8.00 target price on the stock. Finally, Johnson Rice began coverage on shares of Prairie Operating in a research report on Monday, May 12th. They set an “accumulate” rating and a $9.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Prairie Operating presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Insider Activity at Prairie Operating

In other news, CEO Edward Kovalik purchased 6,700 shares of the company’s stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $3.74 per share, with a total value of $25,058.00. Following the completion of the transaction, the chief executive officer owned 1,339,055 shares of the company’s stock, valued at $5,008,065.70. The trade was a 0.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Gary C. Hanna acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was purchased at an average cost of $3.83 per share, with a total value of $95,750.00. Following the transaction, the president owned 1,350,226 shares in the company, valued at approximately $5,171,365.58. This trade represents a 1.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders bought 57,340 shares of company stock valued at $217,567. 15.44% of the stock is currently owned by insiders.

Prairie Operating Profile

Prairie Operating Co, an independent energy company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company holds assets in the Denver-Julesburg Basin in Colorado; and the Niobrara and Codell formations. Prairie Operating Co is based in Houston Texas.